The supply of land is perfectly inelastic when
A. A tax on land rents will be partially shifted to tenants
B. A tax on land rents will be shared by tenants and landlords
C. A tax on land rents will be paid entirely by landlords
D. A tax on land rents will increase the rents paid by tenants.
Answer: C
Microeconomics
- An increase in the price level may be caused
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- Suppose that wages increase sharply this year. Other things being equal a wide-spread increase in wages will have which of the following consequences for the U.S. economy?
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